Kibkom North Cyprus Forum

I went Into mine this morning and it was as quiet as the grave. It was actually the quietist I've known in 9 years. One or two Russian men in suits talking in hushed voices to other men in suits the other side of the counter. Then I realised why - lira gone to over 8 to the pound. Decisions, decisions!!

I changed 5000tl end of May and got roughly £800, if I had left it until now I would have lost £200. It is a hard decision because who knows how things are going to go, you just have to decide what is right for you!

Looks like another interesting day for the lire up from 8.17 to 8.51 as I write. 6.5 to the $

Popped in to see my Exchange man first thing this morning and he said that Central Bank and Turkey have warned it will increase by at least another15 -20 Kuros tomorrow or certainly Monday. Not sure how you can determine what rates will be in force 3 or 4 days in advance, I thought the money markets altered virtually by the minute.?

sophie wrote:Popped in to see my Exchange man first thing this morning and he said that Central Bank and Turkey have warned it will increase by at least another15 -20 Kuros tomorrow or certainly Monday. Not sure how you can determine what rates will be in force 3 or 4 days in advance, I thought the money markets altered virtually by the minute.?

Money markets do except for weekends, as generally one market is open through the 24 hours.
Think today is a Bayram so I guess that's why he mentions Friday/Monday.
I'm guessing that maybe they have burned through the Qatar money already.
Until they raise intetrest rates everything else they are doing is painting the lifeboats on the Titanic.